
MacDonald v. Canada: Clarity to the Taxation of Derivative Contracts
Taxpayers try to characterize their expenses, gains, and losses in a way that benefits them. Thus, the characterization of expenses, gains, or losses as on account income or capital has always been a major theme of tax law disputes. One such dispute was addressed in MacDonald v. Canada, 2020 SCC 6 [MacDonald], a decision by […]